Ethereum started an upside correction above $1,250 against the US Dollar, following XRP rally. ETH could gain bullish momentum if it clears the $1,400 resistance.<\/p>\n
Ethereum started a recovery wave above the $1,250 and $1,300 levels.
\nThe price is now trading above $1,300 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could recover further it clears the key $1,400 resistance zone.<\/p>\n
Ethereum Price Recovers<\/p>\n
Ethereum managed to stay above the $1,220 support zone<\/a>. ETH started an upside correction above the $1,250 level after ripple\u2019s xrp started a strong upward move.<\/p>\n Ether price was able to clear the $1,260 and $1,280 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. It is now trading above $1,300 and the 100 hourly simple moving average<\/a>.<\/p>\n It seems like the price is trading in a positive zone above the $1,320 level. On the upside, the price is facing resistance near the $1,380 level.<\/p>\n There is also a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH\/USD. The trend line is near the 76.4% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n The next major resistance is near $1,400 level. A clear break above $1,400 might start a decent increase towards the $1,450 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance.<\/p>\n Fresh Decline in ETH?<\/p>\n If ethereum fails to recover above the $1,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,330 zone and the 100 hourly simple moving average.<\/p>\n The next major support is near the $1,288 level. A downside break below the $1,288 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,220 level in the near term. \u00a0Any more losses could increase selling and the price might drop to $1,150.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n Major Support Level \u2013 $1,288<\/p>\n Major Resistance Level \u2013 $1,400<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum started an upside correction above $1,250 against the US Dollar, following XRP rally. ETH could gain bullish momentum if it clears the $1,400 resistance.<\/p>\n Ethereum started a recovery wave above the $1,250 and $1,300 levels. Ethereum Price Recovers<\/p>\n Ethereum managed to stay above the $1,220 support zone<\/a>. ETH started an upside correction above the $1,250 level after ripple\u2019s xrp started a strong upward move.<\/p>\n Ether price was able to clear the $1,260 and $1,280 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. It is now trading above $1,300 and the 100 hourly simple moving average<\/a>.<\/p>\n It seems like the price is trading in a positive zone above the $1,320 level. On the upside, the price is facing resistance near the $1,380 level.<\/p>\n There is also a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH\/USD. The trend line is near the 76.4% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low.<\/p>\n
\nThe price is now trading above $1,300 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could recover further it clears the key $1,400 resistance zone.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near $1,400 level. A clear break above $1,400 might start a decent increase towards the $1,450 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to recover above the $1,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,330 zone and the 100 hourly simple moving average.<\/p>\nThe next major support is near the $1,288 level. A downside break below the $1,288 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,220 level in the near term. \u00a0Any more losses could increase selling and the price might drop to $1,150.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\nMajor Support Level \u2013 $1,288<\/p>\nMajor Resistance Level \u2013 $1,400<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum started an upside correction above $1,250 against the US Dollar, following XRP rally. ETH could gain bullish momentum if it clears the $1,400 resistance.<\/p>\nEthereum started a recovery wave above the $1,250 and $1,300 levels.\nThe price is now trading above $1,300 and the 100 hourly simple moving average.\nThere is a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair could recover further it clears the key $1,400 resistance zone.<\/p>\nEthereum Price Recovers<\/p>\nEthereum managed to stay above the $1,220 support zone<\/a>. ETH started an upside correction above the $1,250 level after ripple\u2019s xrp started a strong upward move.<\/p>\nEther price was able to clear the $1,260 and $1,280 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. It is now trading above $1,300 and the 100 hourly simple moving average<\/a>.<\/p>\nIt seems like the price is trading in a positive zone above the $1,320 level. On the upside, the price is facing resistance near the $1,380 level.<\/p>\nThere is also a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH\/USD. The trend line is near the 76.4% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near $1,400 level. A clear break above $1,400 might start a decent increase towards the $1,450 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance.<\/p>\nFresh Decline in ETH?<\/p>\nIf ethereum fails to recover above the $1,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,330 zone and the 100 hourly simple moving average.<\/p>\nThe next major support is near the $1,288 level. A downside break below the $1,288 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,220 level in the near term. \u00a0Any more losses could increase selling and the price might drop to $1,150.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\nMajor Support Level \u2013 $1,288<\/p>\nMajor Resistance Level \u2013 $1,400<\/p>\n<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-8298","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=8298"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8298\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8298"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-18.png\"){kind=link}